Zuckerberg also reportedly talked about TikTok with Senator Tom Cotton (R-Ark.) Cotton and Senator Chuck Schumer (D-N.Y.) soon after wrote a letter to intelligence officials, demanding a probe into TikTok. A national security review of the short-form video app, owned by China’s ByteDance, followed the letter in November, the Journal noted. The company introduced rival products to TikTok, like Instagram Reels, a short-form video app in 50 markets, including the U.S., earlier this month. Price Action: Facebook shares closed nearly 0.7% lower at $267.01 on Friday and further declined 0.15% in the after-hours session.

Source: Wall Street Journal August 24, 2020 02:15 UTC